And let's not even begin to think what will happen if there were to be evidence that this was an intentional release.
If Covid turns out to be a lab escape (which is a big if), the nation or lab it happened in is just the proximate cause. Deeper responsibility would lie with the institutions and individuals that pushed it despite the risks. No one knows the answer to this (edit: I mean to whether covid escaped from a lab), but it's an open question that deserves credible investigation. Having the investigator be one of the principal funders of the research being investigated is such...bad optics, to put it nicely, that one wonders how anyone thought that would be ok.
[1] https://mbio.asm.org/content/3/5/e00360-12
[2] https://www.nytimes.com/2012/01/08/opinion/sunday/an-enginee...
However i would not let China off the hook until we have figured out exactly what happened. If nobody is held "accountable" (for a certain definition of this word) it is bound to happen again and the next time it most certainly will be "biological warfare".
This needs to be treated as seriously and as comprehensively the way we treat Nuclear Weapons.